Remember, if you already have a copy of the documents mentioned
above, but do not have a credit card, or choose not to use one, you may
elect to obtain a bond in the name of the Federal Treasury of Mexico. At
this time, Mexican bonding companies only operate within the Mexican
border, with the exception of Afianzadora Insurgentes, which operate in
the U.S. through Sanborn's Insurance of McAllen, Texas. Sanborn's has offices
in all of the U.S./Mexican border states.
To obtain a bond, the following is necessary:
1. FURNISH THE BONDING COMPANY WITH THE ORIGINAL
AND TWO COPIES OF THE FOLLOWING:
A. A Resident Card or Passport.
B. A U.S. Social Security Card.
C. A valid Driver's License, not issued in Mexico.
In the event it is a Company vehicle, a Notarized Power of
Attorney.
If the vehicle is not paid in full, you must provide a letter from your
financial institution that authorizes you to take the vehicle into Mexico.
2. COST OF THE BOND:
If the vehicle is a 1988 or older model, the total cost of the bond is One
Hundred Twenty-Five U.S. Dollars ($125.00). In the case of all other models,
the bond shall cost the equivalent of 1% to 2% of the value of the car plus
an issuance fee and taxes. These fees and taxes are not refunded. You are
required to pay the deposit in cash (U.S. Dollars) with the Bond Company.
Be sure to get a receipt for the amount deposited. This amount will be
returned to you at any of the Banco del Ejército's offices located in the
border crossings, 24 hours a day, in cash U.S. Dollars when you complete
your return formalities. Afianzadora Insurgentes is the only bonding
company that has an arrangement with the Banco del Ejército to return
deposits. The other bonding companies return deposits only in their own
offices. Please check times and locations for these offices.
Some bonding companies, such as Afianzadora Insurgentes, offer up
to 50% discount on the deposit is you present them with an original and 2
copies of your Property Tax Return. However, if you only furnish your
Income Tax Return, the discount will be only 30%.
If you own land or real estate in Mexican territory, and you have the
proper title with you and furnish the bonding company with a photocopy,
the deposit will be One Hundred U.S. Dollars ($100.00).
3. NOTE
AND
CONTRACTS:
To complete the bond formalities, it is necessary to sign a note and bond
application contract.
The bond shall be canceled immediately upon return of the vehicle.
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